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Share repurchase programme
MiX Telematics Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/013858/06)
JSE share code: MIX ISIN: ZAE000125316
NYSE share code: MIXT
(“MiX Telematics” or the “Company”)
SHARE REPURCHASE PROGRAMME
Shareholders are advised that the MiX Telematics board of directors (the “Board”) has approved, on
December 3, 2021, an increase to the share repurchase programme under which the Company may repurchase
ordinary shares, including American Depositary Shares (“ADSs”). Post this increase, and after giving effect
to shares already purchased under the programme, the Company may repurchase additional shares with a
cumulative value of R160 million.
A summary of the general repurchase of shares approved by the Board on May 23, 2017 and the above increase
is set out below:
Total value
(R’000)
Share repurchase programme approved on May 23, 2017 270 000
Less: Shares repurchased to date (236 485)
Maximum value of shares that may be repurchased under the original programme 33 515
Share repurchase programme increase approved on December 3, 2021 126 485
Maximum value of shares that may be repurchased in the future under the 160 000
increased programme
The total value of the whole share repurchase programme post the December 3, 2021 increase is R396.5 million.
Shareholders are advised that the total number of shares previously repurchased by MiX Telematics since
the share repurchase programme was announced on May 23, 2017 has been disclosed in the Company’s annual
financial statements and applicable SEC filings. These repurchases were pursuant to the terms and conditions
of a special resolution passed at the annual general meeting held on 14 September 2016 and thereafter renewed
annually in 2017, 2018, 2019, 2020 and 2021.
The Company may repurchase its shares from time to time in its discretion through open market transactions
and block trades, based on ongoing assessments of the capital needs of the Company, the market price of its
securities and general market conditions. This share repurchase programme may be discontinued at any time
by the Board and the Company has no obligation to repurchase any specified amount of its shares under the
programme. The repurchase programme will be funded out of existing cash resources.
The share repurchase programme will extend from December 3, 2021 unless and until discontinued by the
Board or the date when the R160 million limit is exhausted. Any repurchases effected under the share
repurchase programme will be in accordance with the general authority granted by special resolution of the
Company’s shareholders passed at the Company’s annual general meeting held on September 9, 2021.
Share repurchases may be made by the Company from time to time in open market transactions at prevailing
market prices and in accordance with the Company’s insider trading policy. With respect to repurchases of
ADSs on the New York Stock Exchange, the Company will effect such transactions in compliance with Rule
10b-18 under the Securities Exchange Act of 1934, as amended. In accordance with JSE Listings
Requirements, repurchases effected on the JSE will be at a price not greater than 10% above the volume
weighted average trading price of the Company’s shares on the JSE over the five business days immediately
preceding any particular repurchase. All repurchases will be undertaken without any prior arrangement
between the Company and the counter-party.
The Board, having considered the effect of the share repurchase programme and having made due and careful
enquiry as to the working capital requirements of the Company and its subsidiaries for the twelve months
following the date of implementation of the share repurchase programme, confirm that the solvency and
liquidity tests required by the South African Companies Act 71 of 2008 have been complied with.
6 December 2021
Sponsor
Java Capital
Date: 06-12-2021 05:45:00
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